MY HUSBAND HAS PURCHASED A CAR IN HIS NAME AND NOW WANTS TO GIVE THIS CAR TO HIS DAD.WHICH IS A BETTER WAY TO SHOW SALE OF CAR OR GIFTING THE CAR TO HIS FATHER .CAR IS 10 YEAR OLD

Hi,
I and my wife are salaried individuals investing 1.5 L yearly in PPF and taking deduction under 80C. We have 2 year old daughter. I want to open a PPF account for daughter, considering that i know that the total contribution of me and my daughter is limited to 1.5 L total, how to invest in PPF of daughter (minor):
1. I contribute 1.5 L to my wife's PPF, my wife contributes 1.5 L to my PPF, and i also contribute 1.5 L to the minor's PPF, making a cumulative investment of 4.5 L, and thus not breaking the upper 1.5 L contribution limit.
2. I open a HUF account, and contribute 1.5 L to the minor's PPF account as she will be member of my HUF. Take 80C claim in HUF. (But, i have heard, by this method also the maximum limit of 1.5L is broken as the minor is under my guardian ship only, and also that 80C deduction is not available to HUF for member's PPF contribution).
3. Minor's grant-parents are willing to gift her money. The money attained as gift in minor's account can be used to her PPF contribution. 80C will not be available, but 1.5L limit of PPF will not be crossed.
Please guide.

Hello Sir/Mam,

I am a salaried employee. I have also traded in Delivery and Options. Below is my financial situation:

Taxable Salary: 6,00,00
STCG in Equity: 5,000
Turnover in derviatives: 2,70,000
P&L in derivative: -75,000

If i want to carry forward my losses, am i applicable for a tax audit by a CA?

Dear Sir

In new PL format ( Non Corporate Entites ) have Stock in Trade, Work in Progress, Finished Goods.
Here stock in Trade means Goods or Stock in Trade means Stocks belong to Share market.

Please Clear

Dear Sir

Please suggest to me suppose Mr.X has CC limit in HDFC bank. Interest Rs.4420/- for the month of March Dr. in 1st April 2023. So Mr.X has shows liabilities side under 1.Interest accrued and due on borrowings OR 2.Interest accrued but not due on borrowings

Please guide

Is it fair to club the Gross overseas Salary of a person in India WITHOUT considering deductions, expenses or allowances of the foreign jurisdiction?

Amitabh gets a full-time employment offer in Hong Kong via employer letter dated 23 Sep 2016 but due to delays in official procedures in his employer's office, he departs from India on 9 Nov 2016, thus staying in India for more than 182 days

His Gross Income in Hong Kong from Nov 2016 to Mar 2017 is approx Rs 45 lacs. However, after deductions and allowances in Hong Kong, the taxable income is Only Rs 5000 approximately.
The tax on gross income of Rs 45 lacs in India will be approx Rs 15 lacs much more than his net or taxable income. Hence it seems that the law is outdated to include only Gross income for clubbing purposes of staying in India by few days.

Is there any provision which allows exemption to Amitabh to not report this gross income in full or part?
Was it mandatory to disclose overseas bank account in 2016-17?

Is TDS applicable on interest on capital to partners in LLP? I feel it's not applicable in partnership firm but can someone confirm about LLP?

Respected Experts

Kindly let me know Dividend income is taxable or not ?
I got dividend Rs. 56,500/- from different company. I have to pay tax on the same ?

Dear Sir,
i want to ask you can any Accountant making the document of Board resolution & Board Meeting & AGM & EGM documents by independtly for pvt ltd company and public limited company? does accountant required should any aprroval certification services from CA or CS or CMA ?
Please elaborate which types of document done by the accountant independly during the working in pvt ltd company?

Dear Expert,

I just want to file income tax for the financial year 2020-2021, taxable income is less than 5 lakh rupees, so how can file income tax return, will I have to file through json only or can file online also.